...

Iran says no problem in building Meghri power plant in Armenia

Business Materials 23 November 2014 11:14 (UTC +04:00)

Baku, Azerbaijan, Nov.23

By Fatih Karimov - Trend:

Iran says the construction of Meghri power plant in Armenia is underway with no specific problem.

Iranian Deputy Energy Minister Alireza Daemi rejected rumors about removing insurance coverage of the project by the Export Guarantee Fund of Iran (EFGI), saying that the project is being implemented with no problem, Iran's ISNA news agency reported on November 23.

Earlier, Iranian energy minister Hamid CHitchian said EFGI will no longer provide support for some projects overseas.

In October, Chitchian said that the hydro-electric power plants projects experienced a period of halting due to banking problems, adding the problems have been resolved.

In 2012, Iran and Armenia agreed on construction of a joint hydro-electric power plant on the Aras River, which borders the two countries.

Upon completion, the plant will be able to produce 260 megawatts of power, and includes two 130-megawatt plants, one in Iran and the other one in Armenia, according to the Iranian media outlets.

Latest

Latest